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Third-quarter profits up at Heico Corp.

HEICO, a high-tech manufacturer, reported higher earnings for the second fiscal quarter. In this file photo, a worker does deburring of one of the company’s manufactured parts.
HEICO, a high-tech manufacturer, reported higher earnings for the second fiscal quarter. In this file photo, a worker does deburring of one of the company’s manufactured parts. MIAMI HERALD FILE

On the heels of a trio of acquisitions, Heico Corp. reported higher profits for the third fiscal quarter late Tuesday.

The niche technology company with headquarters in Hollywood reported net sales of $300.4 million for the quarter that ended July 31. That’s a 3 percent increase compared to the same time last year.

Profits were also up 3 percent to $33.4 million, the company said.

Heico manufactures replacement parts for airplanes as well as components for the space, defense, communications, medical and computer industries.

The company said it expects net sales to increase 5 percent during fiscal 2015 and net income to grow about 8 percent.

Since the beginning of the month, Heico has acquired all or a majority of F-16 parts manufacturer Aerospace & Commercial Technologies; Midwest Microwave Solutions, a producer of communications and electronic intercept receivers and tuners; and Astroseal Products Manufacturing Corp., which makes expanded foil mesh for lightning strike protection in aircraft.

HANNAH SAMPSON

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